Section 16(2) in Pension Fund Regulatory and Development Authority (Trustee Bank) Regulations, 2015
(2)[ The Trustee Bank shall exercise all due diligence and vigilance in carrying out its duties and in protecting the rights and interests of the subscribers, the beneficiaries of the schemes under the schemes regulated or administered by the Authority. The Trustee Bank shall be responsible for the acts of omissions or commissions by its employees or the persons whose services have been procured by the Trustee Bank in whatever capacity.] [Substituted by Notification No. PFRDA/12/RGL/139/6, dated 19.2.2019 (w.e.f. 23.3.2015).]
